Case Study | Insurance

Ideal Health Benefits Uses People Intelligence to Uncover Ways to Boost Conversion

Ideal Health Benefits, a rapidly growing health insurance agency in the United States, partnered with VoiceSignals to increase the sales conversion rate of prospective customers using voice-based psychometric assessment and predictive behavioral analytics through its People Intelligence Platform©. By focusing on prospects most likely to convert based on their unique personality traits, Ideal Health Benefits (IHB) has an opportunity to increase the average prospect conversion rate from 15% to 23%.

1. Title

“If we can identify the persona within 75 seconds and have that communicated to a sales rep, that's gold. That's a huge advantage”

“Leveraging developments in Artificial Intelligence and Behavioral Science, VoiceSignals has developed and validated a voice-based psychometric assessment platform that can accurately score a person's psychological characteristics in real-time by listening to them speak.”

  • Two Areas to Boost Conversion

  • Identify and Convert

  • Practical Value and ROI

People Intelligence Finds Two Areas to Boost Conversion Rates for Ideal Health Benefits 

The behavioral intelligence produced by VoiceSignals' People Intelligence Platform© identified two routes through which IHB's average sales conversion rate could be increased. The first is to identify prospects most likely to convert at the top of the sales funnel – on the first call, in seconds. The second is to identify the personality traits and behavioral tendencies associated with top-performing employees and use this information to hire new sales agents and train current sales agents.

Identifying and Converting Valuable Customers

Psychometric voice-based personality assessment can be applied to identify which prospects are most likely to convert within seconds of a phone conversation. To determine which personality traits of prospects are associated with a sales conversion in Ideal Health Benefits' prospective customers, conversations between prospects and sales agents were analyzed by VoiceSignals. Half of these conversations resulted in a conversion, and half did not.

Increased conversion rates from 15% to 23%

By identifying the traits associated with prospective customers who convert within a minute of a phone call, IHB will be able to focus time and resources on their most valuable customers and drive a fifty-percent increase in average conversion rates (from 15% to 23%).

Additionally, by identifying the traits associated with top-performing Sales Agents, IHB will be able to select these key traits and train to increase the behaviors related to these traits in the sales team.